TeleFaction is a “Voice of Customer” Company a results-driven solution which translates objective customer data into actionable insights. These insights provide specific action points for management and individuals to secure revenue, retain customers and increase loyalty. TeleFaction believes that only a daily dialog between the company and its client can create a solid relationship that guarantees long term engagement and loyalty. From our point of view, the recipe for success is: by literally listening to the customer, the company can understand the target market´s needs and therefore is able to provide superior value. We make it possible for our clients by measuring their customer´s experience: we collect information in all touch points - internet, phone call (recorded surveys) and letters -, transform it into data + processes it into knowledge = report the results. And our clients participate during the whole process, giving instant feedback. Unlike other players, TeleFaction offers the whole personalized product by coaching our clients on direction for each action. We do not simply provide numbers and graphs, we talk and guide them. The results from our coaching have a direct impact on both management and employee level.
Less time Zero tolerance for waiting time og lack of empowerment More choices than ever before More buying power High expectations and no patience No problems changing vendors/supplier
Sources: Giga, Gartner Group, Forester Research, Nuance Cost per Resolved Issue The Cost of Satisfying the Customer Cost per Resolved Issue Email$9.53 Chat$7.86 Online – self-service $6.55 Phone –Call Center$6.17$
Apple Ipod + Nike Apple – Social media before social media was invented
High-quality interactions drive loyalty as much as the core product/service Custmerthink
CEM is the ‘Right Brained’ Approach to Customer Management An emotional connection is key, even for mundane products ie pampers is just no more an absorbent diaper it is now sold as helping the development of your baby
Lønsomhed og forretningsmæssig succeshandler ikke om at have det bedste produkt eller den flotte reklamefilm. Det handler om relationer. People do business with people er mere vigtig i dag end nogensinde før. Det er forretningskritisk for virksomheder at kundernes forventninger overgåes eller som minimum indfries. Service quality is not about internal compliance It is about satisfying your customer Gode kundeoplevelser skaber fundamentet for loyalitet
Measuring the customer experience and increasing customer loyalty, customer retention and customer acquisition in the process Fredrik Abildtrup CEO @ TeleFaction A/S The Return on Behavior® Company
Are spreading good experiences, rewarding good service;
Bad news are discussed more frequently due to easy access to new channels of communication;
Short-term relationship with brands with no bad conscience;
No immediate emotional attachment;
Difficulty to forgive
The voice of the customer – why is this important? A big survey, In Customers Are People, shows, that 70 procent of the customers buying decision are based on how they feel they are being treated. Another survey shows, that 69% of the customers say, that emotions count for more than half of the total buying experience
A survey conducted in Denmark, where the customers were asked if they would change supplier if they had a bad customer experience, showed, that
32% would change immidiately,
67% would change if it happened again, and only
1% would not change
A good customer experience are told to 8 others
A bad customer experience are told to 22 others
It takes 10 good experiences to make up for one bad
Memorable experiences can lead to customer actions that build—or destroy—profits
Pleased Comfortable Appreciated Important Special Frustrated Let Down Angry Ignored Confused Recommended to a friend or colleague Praised a company representative Purchased more products/services Continued relationship about the same Complained to a friend or colleague Complained to a company representative Switched to new supplier/provider Purchased less products/services
Customer Experience Management… … is or should be the execution of a customer centric business strategy
The culture of a company are very difficult to copy, because it is embedded in the people. It also makes it very difficult to change!
Internet and legislation generates more transparency in all markets. Products, prices, processes etc. can ‘easily’ be compared by customers and/or copied by competitors.
Danske Bank Group has developed and implemented one integrated analytical set-up for measuring customer satisfaction and attraction in the market.
Customer Experience in the Moment Of Truth has a key role in this set-up. Other analysis covers other needs.
An important role for the Moment Of truth measurements are, that they function as a mirror, when reported back to each team on a quarterly basis.
The discussion is ‘no longer’ a conflict between headquarter opinions, branch managers former experience and the advisors first hand experience about a specific meeting. Now the bank looks forward based on the customers view, and on how to improve the next experiences.
Create a customer vision/strategy Customer Experience How do we ensure that customers get the same experience across all touch points? On which level must the experience be consistent across all channels? Integration How do we share knowledge of our customers? How do we plan and implement customer activities across the company? How close do we want to integrate ourselves with customers and partners? Balanced effort How do we balance our efforts in relation to the customers value? What effect does that have in our activities? How far will we go? How do we focus on loyalty, retention, additional and cross sales? Customer Expectations When are the customer in touch with us and why? Which expectations do they have and how do we live up to them? How do we communicate with the customers? What impact does customer satisfaction have on revenue and profit? Customer Value Which customers have which value? How do we measure it? Which customers will we attract, retain or develop? Which service will we provide the defined segments? Knowledge of Customers How do we collect knowledge of our customers In which touch points? How do we use this knowledge? How can we enrich and increase our own knowledge